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Gold Prices Inch Up as Investors look for Bargains – Gold Silver Reports

US gold futures were up 0.1 per cent at $1,200.40 an ounce.

Gold Fundamentals Reports

Spot gold had risen 0.2 per cent to $1,196.21 as of 0057 GMT. On Wednesday, the metal touched its lowest since September 11 at $1,190.93 an ounce.

US gold futures were up 0.1 per cent at $1,200.40 an ounce.

Gold is sensitive to higher interest rates because they tend to boost the dollar, making bullion more expensive for buyers with other currencies.

The dollar steadied against its peers early on Thursday as the small boost it received from the US Federal Reserve interest rate hike faded, with a decline in US Treasury yields reducing support for the greenback.

In a statement that marked the end of the era of “acc ..

In a statement that marked the end of the era of “accommodative” monetary policy, the Fed raised interest rates on Wednesday and left intact its plans to steadily tighten monetary policy, as it forecast that the US economy would enjoy at least three more years of growth.

China on Wednesday unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on Nov. 1, as the country braces for an escalating trade war with the United States.

US President Donald Trump on Wednesday accused China of seeking to meddle in the Nov. 6 US congressional elections, saying Beijing did not want his Republican Party to do well because of his pugnacious stance on trade. 

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Neal Bhai has been involved in the Bullion and Metals markets since 1998 – he has experience in many areas of the market from researching to trading and has worked in Delhi, India. Mobile No. - 9899900589 and 9582247600

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